#1 This question is worth 5 points, 2.5 point for each part.The annual output and prices of a 3-good economy are shown in the table below. Assume Year 1 is the base year.Year 1Year 2Quantityof IceCream146Price of Ice Quantity ofCream Shampoo$6$8What was nominal GDP in year 1? $What was real GDP in year 2? $23Price ofShampoo$4$843Quantity ofPeanutButter$3$5Price ofPeanutButter

Nominal GDP shows the GDP without adjusting for inflation. It does not take into account the…

Answered: This question is worth 5 points, 2.5…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The following are guidelines for recognizing your employees that help you to achieve your organization' goals and objectives. discuss each one of these point. • Do not limit recognition to high- visibility jobs. • Do not limit recognition to a few best performers.
Select the concept that correspond to each description It is a plan of action undertaken by government officials to achieve some broad purpose affecting substantial segment of a nation's citizens. Public policy It refers to policies in housing, health care, and education. [Choose] National values, such a freedom, [Choose ] democracy, and a fair chance for all citizens to share in economic prosperity, have led to the adoption of civils rights laws and economic assistance for those in needs They may cause businesses to improve the way lead is used in the workplace to reduce health risk, but also companies can removes pregnant woman from their job to avoid the health risk. [Choose ] They are external pressure that shapes a [Choose ] government's policy decisions and strategies to address a problem.
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Make several lists of things out there in the world that you are interested in...or passionate about…or enraged by or fascinated by…or overwhelmed by…or in love with
Globalization had brought different effects to the society. It had changed that world and how the world processes. Different states join together in creating a better world for humanity. Different businesses establish parts of their business in different parts of the planet in order to provide work for the underdeveloped or developing nations. Most of these nations profit from the globalization processes of the world because this is the way in which they acquire profit. Having a Multi-national Corporation (MNC) invest in one of those nations provides good opportunity not only for the government but also the people. Among the entities involved in the process of globalization, the people are said to profit most for the reason that they are given opportunities and jobs for their family. However in another perspective, the MNCs could be seen as the most profitable entity in the aspect of globalization. It is known to many that the labor pay for the people of the developed and…
What elements of happiness do wealth and productivity miss? What elements of happiness do they measure?
Marginal Average Marginal Total Output Price Revenue Total Cost Cost 1 $ 100 $ 100 $ 100.00 $30 2 90 80 63.00 26 80 60 52.67 32 4 70 40 49.50 40 5 60 20 49.60 50 50 50.00 52 7 40 -20 52.29 66 30 -40 55.75 80 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the data for a nondiscriminating monopolist. This firm will maximize its profit by producing
Sam quit his job and started his own business. He made a $100,000 salary at his old job. The company paid $10,000 a year for his family's health insurance premium and paid him $5,000 in profit sharing in the year. He owns some commercial property that he used to rent out and make $20,000 a year. Now he uses that property for his new business. With his new business, in his first year, he paid his production workers $125,000. He paid a salesperson $60,000 in commissions. His gas and utilities came to $12,000. He put in $50,000 of his own money that he could have made 2% a year in the bank. He also spent $14,000 in advertising and $20,000 for a business consultant. In his first year as a business owner, Sam made $300,000 in sales. 1. What are his explicit costs? Be sure to list out all of the explicit costs so that I can give partial credit if need be. 2. What are his implicit costs? Be sure to list out all of the explicit costs so that I can give partial credit if need be. 3. What is his…

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